Which of the following is not a public good?
a. a coastal lighthouse
b. national defense
c. a flood-control levee
d. the latest Walt Disney movie
d
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When is the U.S. economy at full employment?
a. When there is no cyclical unemployment b. When there is no structural unemployment c. When there is no full employment d. When there is no seasonal unemployment e. When there is no frictional unemployment
Monopolies are socially inefficient because the price they charge is
a. equal to marginal revenue. b. above marginal cost. c. equal to demand. d. above demand.
If net investment in 2017 is $225 billion and gross investment in 2017 is $350 billion, depreciation in 2017 is
A. $125 billion. B. $175 billion. C. $225 billion. D. $575 billion.
Cross-price elasticity of demand measures the response in the
A. quantity of one good demanded to a change in the price of another good. B. quantity of one good demanded when the quantity demanded of another good changes. C. price of a good to a change in the quantity of another good demanded. D. income of consumers to the change in the price of goods.